Rakesh Jhunjhunwala says, "I have committed that I will donate 25% of portfolio or Rs 5,000 crore, whichever is less, on July 5, 2021."
What if we were to tell you that the market ace Rakesh Jhunjhunwala plans to donate nearly Rs 5,000 crore? Unbelievable, right? Well, the ‘big bull’ has himself spoken of his plans to donate 25% of his portfolio in 2021. In an interview to CNBC-TV 18, Jhunjhunwala spoke of the importance of charity and his plans. “I have committed that I will donate 25% of portfolio or Rs 5,000 crore, whichever is less, on July 5, 2021.” Incidentally, that’s the date on which Jhunjhunwala turns 60. “First of all, I am still not a philanthropist. I hope to be one. I am not giving so much of my wealth that I should feel that I am a philanthropist,” he said.
Explaining how he decided to take this step, Jhunjhunwala said, “My father was always not concerned about the wealth I have, but every year he would ask me, how much have you given in charity? And how much taxes have you paid? He was financially independent, he always said that I don’t want anything from you, but I will always tell you to give in charity. When he passed away in 2008, I really missed him, and then I thought that the greatest homage I could give him is to give. Then I thought of structuring what I would give, From 2008, I started giving 25% of my dividend income. Then I decided to commit to this amount or percentage for 2021.” “I also feel that giving is not giving, it’s a duty,” he added.
— CNBC-TV18 News (@CNBCTV18News) October 4, 2016
“I don’t want to lecture anybody, I would only say this to my fellow people would be to give, however small. Give what your pocket permits. I don’t think a person who is giving Rs 10, is giving less than me,” he said. “Today the biggest worry for me is not that how much wealth I will earn tomorrow, the biggest worry is that I have to fulfill this commitment of Rs 5,000 crore to create an organisation that will be able to use this money in a way that can really make a difference to the society,” he added.